What is amortisation?
A self-employed professional has to invest in order to start and grow their business. These investments (e.g. a car, a computer, a new building) are intended to last several years: you will therefore deduct their cost in instalments, over the years of use of these goods, and not entirely the year of purchase. To understand further about its implication, please refer to this source.
How to add an asset in the app?
Please perform the following steps to add an asset into your app:
Open the expense universe in your app and select 'manually input expense' after clicking on the '+' icon.
From the 'categories' field, choose 'investments' and type of the investment, you would like to encode. For instance: Technology or Vehicle.
Fill the other necessary fields. Note: If the amount of your investment is below 250 then amortisation will not be taken into consideration, if it is equal to or more than 250 then, the field for amortisation will appear.
Input the asset name, so that app can create an asset for this transaction in the depreciation table (legal requirement).
Press 'add expense' afterwards, your asset will be created.
Can i add an asset in the app that i had before using accountable?
Of course, you can. You can choose the date when you actually acquired if that asset was also sold before your accountable subscription then you can still encode and sell/mark it as broken or lost, just to realise an impact in your accounting.
What to do if i want to sell an asset in the app?
Open the three line menu on the top left corner of your accountable app's main screen.
Open 'settings' then choose amortisation.
From the opened list, select which asset, you would like to sell.
Click on 'Change item details' and then select mark asset as sold. After which you will get two options:
If you have already created an invoice in regards to this sale choose 'Yes. Link to an existing sales invoice'. and choose the related invoice before pressing 'Link to item'.
If you have not created an invoice yet then select 'No. Create a new sales invoice' and fill out the necessary fields after which, the linkage between the investment and purchase will automatically be created.
How to encode a broken or stolen asset in the app?
Open the three line menu on the top left corner of your accountable app's main screen.
Open 'settings' then choose amortisation.
From the opened list, select which asset, you would like to mark as broken or stolen.
Click on 'Change item details' and then select mark asset as lost/broken.
Choose the date when the event occurred, the app will take all necessary actions automatically from here onwards.
Can i delete an asset?
Yes, you can do it through following these steps:
Open the three line menu on the top left corner of your accountable app's main screen
Open 'settings' then choose amortisation
From the opened list, select which asset, you would like to delete.
Click on 'Change item details' and then select 'delete asset'.
A window will open with following description 'To delete an expense, you must delete the underlying expense'.
From this window, click on 'Open Expense' and then delete the relative expense in order to delete the asset.